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Oil prices have been swinging up and down seemingly without reason. This volatility will continue in the short term, but the foundation for long-term price stabilization is being laid behind the scenes.

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U.S. crude inventories are sitting at record highs of around 2.05 billion barrels right now.

That's not a surprise. After all, there's a lingering global crude glut.

But what's surprising - at first glance - are U.S. crude imports. They're up by close to 1 million barrels per day. The country took in 8.64 million barrels per day in the week ending March 25, compared to just 7.69 million over the same period a year ago.

Therein lies what appears to be a paradox: Why on Earth would we import more oil when we may be forced to fill swimming pools with it soon?

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The City of London is hands-down the most important energy financing command center on Earth. More money for oil and gas projects is raised within a three-mile radius of Liverpool Street station than anywhere else in the world.

Naturally, this part of town is packed to the rafters with some of energy's most influential and important "money men" and women.

When I was at the Palace of Westminster for a closed-door energy briefing at the House of Lords, these financiers were absolutely electrified by one recent development.

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There's a lot of conversation about the energy sector's accelerating debt crisis. The bottom line is simply this.

Regardless of where the crude oil price moves from here, there is little likelihood that any rise in the level will be large (or happen soon) enough to save most companies mired in a vicious cycle of ever more debt.